Respuesta :
1) What was the deal that was made between Vanderbilt and Rockefeller?
Answer: Rockefeller doesn't explore for oil too risky he improves methods of capturing and refining it. The deal gives Vanderbilt exclusive rights to transport Rockefeller's oil products and allows Rockefeller to rise above his own competitors until he owns 90 percent of America's oil.
2) Describe the influences of Rockefellers life that leads him to excel. Why does he decide to invest in kerosene and an oil refinery?
Answer: American industrialist John D. Rockefeller built his first oil refinery near Cleveland and in 1870 incorporated the Standard Oil Company.
3)Explain the importance of Rockefellers creation of standard oil and its impact on the production of
kerosene.
Answer: Standard Oil gained a monopoly in the oil industry by buying rival refineries and developing companies for distributing and marketing its products around the globe.
4) Why does Rockefeller meet with Tom Scott? How does this deal benefit Rockefeller but not his competitors?
Answer: Rockefeller wants bigger and better shipping rates. He meets with Vanderbilt's rival, Tom Scott, president of one of the largest rail lines, and his protégée, Andrew Carnegie. An oil and rail cartel is agreed. No paperwork is exchanged.
5) Explain how Rockefeller is able to create the first monopoly in the United States. How does he also maximize his profit in this process?
Answer: By 1880, Standard Oil owned or controlled 90 percent of the U.S. oil refining business, making it the first great industrial monopoly in the world.
6) Why do Vanderbilt and Scott form an alliance against Rockefeller?
Answer: He wanted to do to oil what Vanderbilt did to rail. After raising money from investors, he became the largest refiner in the country.Vanderbilt and Scott formed an alliance, cutting Rockefeller away from their rail lines. This was a declaration of yet another war, with this move, Rockefeller sorts an alternative.
7) Explain how Rockefeller is able to cut the railroads out of the oil business.
Answer: Rockefeller's new business associates offered him a rebate off the price that other people had to pay to ship goods on the railroads. He played them off against each other so that he could get the best possible deal on shipping rates.
8) what is the cause of the panic of 1873, which results in the stock market crash in the first impression of the United States?
Answer: The perception of US instability in its monetary policy caused investors to shy away from long-term obligations, particularly long-term bonds. The problem was compounded by the railroad boom, which was then in its later stages. In September 1873, the US economy entered a crisis.
9) Explain how Rockefeller benefits from the Panic of 1873.
Answer: Rockefeller was able to negotiate favorable contracts with the railroad companies, who granted him discounts for transporting his company's oil, giving him an important advantage over his competitors.
10) What happens to Tom Scott’s Pennsylvania Railroad Company? Explain Rockefellers role in this event?
Answer: He died on May 21, 1881, and was buried at Woodlands Cemetery in Philadelphia. The railroad-based economy of the United States was overtaken by the oil boom.
